Sector Update: Energy Mixed, Chevron Buys Out Atlas Energy for $4.3B

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Dow Jones U.S. Oil & Gas Index: 534.61 Monday regular session close

NYMEX Benchmark Crude: +0.32 (+0.36%) to 88.78

Top Energy Stocks

XOM: -0.41%

CVX: -0.94%

SLB:+0.41%

OXY: +0.33%

COP: +0.50%

Energy issues are mixed pre-market, while oil prices gain as the dollar falls. Chevron Corp ( CVX ) will buy Atlas Energy Inc ( ATLS ) for $4.3 billion which will boost Chevron's stake in the Marcellus shale fields. Chevron will pay $43.34 a share for Atlas, which marks a 37% premium over the company's closing price Monday. Speculation is growing that Woodside Petroleum Ltd (WPL) will be the target of a takeover after Royal Dutch Shell plc (RDSA) reduced its stake in the Australian energy producer. Monday, Shell sold a 10% stake in Woodside for $3.3 billion, and rumors abound that it will sell off its remaining 24.27% stake in the company.



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This article appears in: Investing , Commodities

Referenced Stocks: ATLS , CVX

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